Okto Wallet App Announces Its Global Launch The wallet is designed to empower users to swap thousands of tokens and earn from vetted DeFi opportunities, all while ensuring a seamless user experience
By Teena Jose
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Okto, the first-of-its-kind Defi wallet app, has announced its worldwide launch. Made in India, Okto has leveraged the industry knowledge of its Indian partner CoinDCX, a crypto exchange. This keyless, self-custody Web3 wallet provides secure access to DeFi services, ensuring the safety of users' funds. The wallet is designed to empower users to swap thousands of tokens and earn from vetted DeFi opportunities, all while ensuring a seamless user experience.
The new security layer for the Okto Wallet uses advanced cognitive AI technology for adaptive and continuous authentication. By monitoring user activities in real-time, the system can identify any questionable activity to protect the user against any potential misuse. The all-in-one Web3 app eliminates the need for safeguarding seed phrases ensuring full control of funds with users. It also removes the risk of single point of failure using state-of-the-art, custom-built, consensus-driven Multi-Party Computation (MPC) technology, according to an official statement by the company.
"We are excited about the constantly evolving AI technology and the endless possibilities it presents in the Web3 space. With our innovative security feature backed by AI, we aim to increase user confidence and trust in self-custodial wallets. We have filed for a patent for this technology in India and will take it up in other relevant jurisdictions in due course," said Neeraj Khandelwal, co-founder, Okto and CoinDCX.
"Okto is one of the few global apps that offer access to thousands of tokens on multiple chains within a single mobile app. With seamless access to a wide range of tokens across multiple chains, users can trade across different chains, pay gas fees in any token, and enjoy convenient and efficient transactions. Okto's user interface is designed to make it easy for even novice users to explore various opportunities across pools on a single app, making it a powerful tool for navigating the world of decentralized finance," said Gaurav Arora, SVP, DeFI Initiatives.
